Pre market comment Deven Mehata, Research Analyst, Choice Broking
Below the Quote on Pre market comment Deven Mehata, Research Analyst, Choice Broking
The benchmark Sensex and Nifty indices are expected to open higher on June 6, following GIFT Nifty trends indicating a gain of 35 points for the broader index.
Nifty can find support at 22,500 followed by 22,400 and 22,200. On the higher side, 22,750 can be an immediate resistance, followed by 22,800 and 22,900.
The charts of Bank Nifty indicate that it may get support at 48,900, followed by 48,700 and 48,600. If the index advances further, 49,200 would be the initial key resistance, followed by 49,400 and 49,500.
Foreign institutional investors (FIIs) continued their selling for a second consecutive session on June 5 as they sold Indian equities worth Rs 5,656.26 crore, while domestic institutional investors turned net buyers as they purchased equities worth Rs 4,555.08 crore on the same day.
INDIAVIX was negative yesterday by 29.40% yesterday and is currently trading at 18.8850.
We have seen a sharp bounce back in the markets yesterday after news of NDA forming a government for the 3rd consecutive time. Global markets were also strong yesterday. Market can stay in a range for some days and we can witness some consolidation after high volatile days.
Above views are of the author and not of the website kindly read disclaimer
